Economics News Newswire

Economics News Newswire

Comprehensive Real-Time News Feed for Economics News.

Results 1 - 20 of 24,626 in Economics News

  1. Quebec judge signs off on $450-million settlement fund for Lac-Megantic victimsRead the original story

    29 min ago | The Chronicle-Journal

    A Quebec judge has approved the new terms of a $450-million settlement fund for victims and creditors of the Lac-Megantic train disaster, prompting a lawyer in the case to say cheques should begin arriving in the mail by Christmas. Patrice Benoit, lawyer for Montreal Maine and Atlantic Railroad , the now-defunct railway company at the centre of the 2013 disaster, said a few administrative issues remain but that "everything is settled."


  2. Ex-Anglo bank chief faces 33 charges if extradited to DublinRead the original story w/Photo

    34 min ago | Star Tribune

    Ireland hopes to prosecute a disgraced former chief executive of Anglo Irish Bank for 33 counts of fraud, forgery and other crimes if he's extradited from Boston to Dublin, court documents unsealed Tuesday show. The disclosure, reflecting six years of Irish police and corporate fraud investigations into David Drumm, came days after his arrest in his luxury Massachusetts home and hours ahead of his appearance in a Boston court to face an extradition warrant.


  3. Banks dropping a wait and see,a get ready to bail on frackersRead the original story w/Photo

    42 min ago |

    The U.S. shale oil industry is in retreat, but it will largely survive next year, and its production decline will not be catastrophic enough for oil prices to shoot up. Saudi Arabia's price war on the U.S. producers began a year ago, and the shale producers held out as well as they could for most of it, running on bravado, cost-cutting, borrowing and previously bought hedges.


  4. Banka: Are grandma and grandpa about to go bankrupt?Read the original story w/Photo

    1 hr ago | Kelowna Capital News

    The most recent Statistics Canada report which covers the years 1999-2012-meaning even though the report was just published, its already three years out of date-indicates that the debt in families increased by four per cent over these years. Seniors' debt during this period increased by 16 per cent.


  5. Elmwood Park's Parkway Lanes seeks to exit bankruptcyRead the original story w/Photo

    1 hr ago | The Verona-Cedar Grove Times

    A Jersey City entrepreneur who co-founded E! Entertainment Television has stepped forward to provide a road out of bankruptcy for Elmwood Park's struggling Parkway Lanes, but one attorney involved in the case said the plan may lead to the bowling alley being turned into a self-storage outlet. According to a proposal filed in U.S. District Bankruptcy Court in Newark by MCD Sports LLC, which operates the more than 50-year-old business, the company would exercise an option in its lease to purchase the building that houses the lanes for $3 million, and then sell it to The Alan Mruvka Co.


  6. Outlook For The Japanese Financial Sector - Window Of Opportunity Or Total Value Trap?Read the original story w/Photo

    1 hr ago | Seeking Alpha

    As Japan's colossal debt-to-GDP ratio grows and analysts call for further monetary stimulus, the probability of a large-scale credit crisis looms overhead for Japanese financial institutions and the bond market. Japanese bank stocks and bond yields have already hit historical lows and bottomed out at these levels for years.


  7. Fitch Affirms Detroit DDA, MI's Ratings at 'BB+'; Outlook StableRead the original story

    2 hrs ago | Business Wire

    Bonds are backed by a pledge of tax increment revenues captured by Development Area No. 1 net of those captured for school district purposes .


  8. Fed judge orders Irish banker David Drumm detained at hearingRead the original story w/Photo

    2 hrs ago | Boston Herald

    Former Anglo Irish Bank chief David Drumm, left, and his wife Lorriane leave the U.S. Bankruptcy Courthouse where Drumm's bankruptcy trial is ongoing on Wednesday May 28, 2014, in Boston. A fugitive Irish financier - the former head of the bank known as the Celtic Chernobyl during his country's financial collapse - today was ordered held at his extradition hearing in U.S. District Court in Boston, pending a bail hearing on Friday.


  9. Global PC shipments slump to 71 million in Q3 2015Read the original story

    2 hrs ago | IT Business

    A combination of unsettled currencies, inventory issues and operating system transitions are the factors being blamed for a larger-than-expected slump in PC shipments for the third quarter of 2015. "The PC market continues to contract as expected, but we remain optimistic about future shipments," said Jay Chou, research manager at IDC Worldwide PC Tracker, in a statement.


  10. SFX Faces Its Future: Five Possible Outcomes Following Wednesday's Big DeadlineRead the original story w/Photo

    2 hrs ago | Billboard

    Wednesday is the deadline for SFX Entertainment to accept bids from third parties on parts of the EDM roll-up or the entire company. It's difficult to pick one outcome from a range of likely scenarios.


  11. Forsys Closes $1.84 Million Private PlacementRead the original story w/Photo

    2 hrs ago | Market Wire

    Forsys Metals Corp. today reported that it has closed its previously announced non-brokered private placement by issuing 15.34m units at $0.12 per unit for gross proceeds of $1.84m . Each unit consists of one Class A Common Share and one half of one Common Share purchase warrant with each whole warrant entitling the holder to acquire a new Common Share in Forsys at a price of $0.24 expiring on October 13, 2017.


  12. Relativity Television's Employees Expected to Remain After PurchaseRead the original story

    3 hrs ago | WSJ Media and Advertising

    Relativity Television's employees, including chief executive Tom Forman, are expected to remain in place when senior lenders buy the TV studio from the ailing company later this month, according to the lenders' lawyers.


  13. Employers' Cost-Cutting Measures in Strained Economic TimesRead the original story w/Photo

    3 hrs ago |

    The subprime mortgage crisis and related nationwide economic difficulties have caused some companies to review ways to minimize the financial impact on their bottom line. LexisNexis is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications.


  14. The Future Of Bitcoin Isn't Bitcoin--It's Bigger Than ThatRead the original story w/Photo

    3 hrs ago | Fast Company

    But it wasn't the size of the bond that drew attention. It was the way it was sold: through Overstock's new digital trading platform T0 , which records securities trades through the same shared ledger technology that backs cryptographic currencies like bitcoin.


  15. Skanska and Surety Argue About Alleged OverpaymentsRead the original story

    3 hrs ago | ENR-Engineering News-Record

    A mediation is apparently underway between a surety and Skanska USA Building Inc. over obligations related to the default in 2013 of a glazing and window subcontractor on an Air Force project in Texas. The surety, in a lawsuit filed in federal district court in San Antonio in July, 2013, claims Skanska's payments to the sub deprived the surety of the funds, leaving it short of assets possibly needed to dispose of the surety's obligation under the bond.


  16. Relativity TV Buyers to Pump in Additional $60 MillionRead the original story w/Photo

    3 hrs ago | SFGate

    "The new company will be debt free with $30 million in cash and a $30 million note receivable," papers said Relativity TV's skies are getting clearer, as documents filed Tuesday revealed an infusion of cash from their new owners and record growth in earnings and content produced. The group of Relativity Media's senior lenders, who won only the TV assets at bankruptcy auction earlier this month, have provided a guaranteed $30 million in capital and assumed a $30 million debt.


  17. Bershidsky: Time is running out on American frackersRead the original story w/Photo

    4 hrs ago | Salt Lake Tribune

    The U.S. shale oil industry is in retreat, but it will largely survive next year, and its production decline will not be catastrophic enough for oil prices to shoot up. Scarier things probably await U.S. frackers in 2017.


  18. David Drumm: Wife Lorraine Drumm attends court for husband's extradition hearingRead the original story w/Photo

    4 hrs ago |

    Lorraine Drumm, David Drumm's wife, arrives at the federal courthouse in Boston, Oct. 13, 2015 before the Drumm's extradition hearing Lorraine Drumm, David Drumm's wife, arrives at the federal courthouse in Boston, Oct. 13, 2015 before the Drumm's extradition hearing The wife of David Drumm has arrived at the Boston courthouse where her husband David Drumm is set to appear before a judge in an extradition hearing. Wearing a navy shirt dress and opaque tights, Lorraine Drumm made no comment as she made way into the courthouse.


  19. Secured Creditors in Section 363 Sales Be Aware -Your Proceeds May Be ...Read the original story w/Photo

    12 hrs ago |

    It is a basic feature of sales under section 363 of the U.S. Bankruptcy Code, that the purchaser takes free and clear of all claims and interests, such claims and interests attach to the proceeds of the sale in accordance with their priorities. Among the interests that are extinguished by the free and clear sale orders are states' taxing authorities' rights to pursue a purchaser under bulk sale statutes for the seller/debtor's unpaid tax liabilities.1 Thus, it would appear that secured creditors should feel comfortable that if the sale proceeds are less than their claim, the entirety of the sale proceeds would be used to pay their secured claim.


  20. Sandridge Vs. Halcon, Part II - Who's Getting The Better Deal During Refinancing Of Long-Term Debt?Read the original story w/Photo

    Monday | Seeking Alpha

    Sandridge Energy is in a position to eliminate nearly a billion dollars of long term debt. Most of that debt will be converted to equity.